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How to Rebuild Your Credit

Bankruptcy and Debt Relief — Restoring Your Credit

At the bankruptcy and debt relief law firm of Ammerman & Goldberg "Bankruptcy" Law Office, we are dedicated to helping people in Washington, D.C., Maryland and Northern Virginia resolve financial problems using Chapter 7 and Chapter 13 consumer bankruptcy laws. We then work with them to help rebuild their credit.

Know Your Rights and Regain Financial Security

Today the stigma of bankruptcy has been considerably reduced. While a bankruptcy remains on your credit record for 10 years, you can take steps to re-establish your credit the day your debts are discharged. A majority of our Chapter 7 and Chapter 13 bankruptcy clients can finance an automobile soon after receiving a discharge. Many people begin receiving credit card solicitations within months of their bankruptcy discharge.

Our attorneys have a wide variety of techniques to help our clients re-establish their credit after bankruptcy. If you are wondering how to rebuild your credit after bankruptcy, some steps our clients can take include:

  • Opening a checking and savings account. Many lenders check bank accounts.
  • Pay your mortgage, rent, secured credit cards and utility bills on time. These are often used by lending companies to determine whether or not to lend money.
  • Apply for a secured card. These are credit cards where you deposit cash and charge against it.
  • Apply for credit cards at stores where you would normally pay cash.
  • Have a friend or relative co-sign a loan and then make monthly payments on time.
  • Buy a used car from a bankruptcy-friendly car dealer. Also, try finding a bankruptcy-friendly mortgage broker to refinance your home.
  • Avoid high interest payday loans. These are credit traps and can lead to a circle of debt.
  • Write letters to every credit reporting agency. Explain why you filed for bankruptcy and what you are doing to avoid credit problems in the future.
  • Keep your debt-to-income ratio low. Do not let your consumer debt exceed 20 percent of your disposable income.
  • Live within your means.
  • Pay your reaffirmed, pre-bankruptcy, and for Chapter 13 bankruptcies, consolidated debt payments on time.

To learn more about your debt relief options, please call 202-559-1428 for a free telephone consultation or contact our lawyers by filling out our online form.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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PHONE: 202-559-1428
TOLL FREE: 877-441-4076

FAX: 202-638-5858

Ammerman & Goldberg "Bankruptcy" Law Office
1115 Massachusetts Avenue NorthWest
Washington, DC 20005

Washington Law Office Map

MARYLAND LAW OFFICE
PHONE: 301-890-4500

VIRGINIA LAW OFFICE
PHONE: 703-550-7030